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BALLPARK FIGURE: MENARD REVEALS BUYOUT AMOUNT OF BROCHU
Published January 13, 1999
Expos Chair Jacques Menard said yesterday that the reported C$15M that Expos President Claude Brochu "will command" to sell his 7.6% share of the team "is in the ballpark," according to Stephanie Myles of the Montreal GAZETTE. Menard: "We have agreed in principle on a range and a general figure that is about of that magnitude, as regards the economics part. But a deal hasn't been signed yet, and it hasn't been put to our shareholders -- much less to [MLB]." Menard said that the timetable for buying out Brochu and the 52 days remaining in the 150-day limit set by MLB to put a new ownership group in place are "are independent" of each other. He also said that former Canadiens GM Serge Savard is "not waiting in the wings to succeed Brochu." Menard added that "other significant non- monetary issues still need to be resolved" before a deal with Brochu is finalized, such as how the team will be run until new ownership is established (Montreal GAZETTE, 1/13). Expos' ownership group will meet today "to decide" whether to offer Brochu C$15M for his share (GLOBE & MAIL, 1/13). TIME KEEPS ON TICKING: In Montreal, Jack Todd writes that the Expos "are running out of time" to assemble a new ownership group and that the team has accomplished "little" because of the slow pace of negotiations with Brochu. Expos Limited Partner Mark Routtenberg "won't deny" that Savard could possibly run the team, but said: "We have to know from [MLB]. Is Claude Brochu the control person until a stadium deal is lined up?" (Montreal GAZETTE, 1/13).